The global reality now living cities is a restructuring of the socio-spatial relations and traditional patterns of living and consumption. The city takes a decisive role in the political, economic and social to seek their incorporation into the globalizing dynamic, which creates the existence of different areas inside the city. The article discusses in general terms the processes of revitalization of the central areas of two Latin American cities (Santiago and Mexico City) and the socio-spatial changes that are generated. For the Latin American case, the evidence shows that the revaluation and rehabilitation of historic centers and colonial neighborhoods to create better places of transit, leisure and life for their inhabitants, involving heavy transformation thereof, with disparate realities, urban fragmentation and segregation gentrification.